The labor supply and benefit claiming incentives provided by the early retirement rules of the Social Security Old Age benefits program are of growing importance as the Normal Retirement Age (NRA) increases to 67, the labor force participation of Older Americans rises, and a variety of reforms to the Social Security system are considered. Any…

Analysis of Current Population Survey and Social Security data through 1985 did not support hypothesis that increase in median earnings of Black men after 1964 reflects labor force withdrawal of large numbers of low-income Black men who received government transfers. Of the total gain in relative earnings from 1964-85, only 14 percent can be…

A simulation of the effects of proposed changes in Social Security rules (elimination of the Retirement Earnings Test and an increase in the Delayed Retirement Credit) for men working after retirement age demonstrated a rise in long-run costs by $43 billion in taxes and an increase of only 3.5 percent in the supply of older workers. (Author/SK)

Using a time series analysis to test the net empirical importance of the substitution and wealth effects associated with social security on the market of work of younger men, it was found that hours per week worked would have fallen off since 1936 without the present social security system. (Author)